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Telecom Italia CEO says no talks with Oi for now

Published 25/11/2014, 15:23
© Reuters. Telecom Italia tower in Rome
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MILAN (Reuters) - There are no talks between Telecom Italia (MI:TLIT) and Brazil's Oi (SA:OIBR3) for the time being and it would be premature to talk about a possible capital increase for the Italian group, its chief executive said on Tuesday.

Telecom Italia on Friday said it would examine a possible tie-up between its Brazilian unit Tim Participacoes (SA:TIMP3) and Oi, without giving further details.

"There are no negotiations for the time being," Marco Patuano told reporters on the sidelines of an event, in comments confirmed by a spokesman.

Asked about the possibility of a capital increase, which the group has repeatedly denied, Patuano said: "It is premature to talk about it now. At the moment no operation on capital is being studied."

© Reuters. Telecom Italia tower in Rome

(Reporting by Silvia Aloisi, editing by Valentina Za)

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